Scammers pose as Goldman Sachs bankers on WhatsApp to promote dodgy cryptos

Fraudsters invite unsuspecting WhatsApp users to an online chat group in which they pose as Wall Street bank executives before telling members of the group that they will “provide training strategies free of charge.” investment “.

“I hope Goldman Sachs can become your trusted brokerage,” read one scam message. “As a global investment firm, we work together to create long-term value for our investors…establishing the correct investment philosophy and ensuring that you can earn stable and generous returns is the ability that every investor must have.”

The scammer then promises to “provide a Bitcoin perpetual trading contract strategy” before directing users to a fake crypto platform where they can deposit funds. Other users in the group, also suspected scammers, pledge to invest in the crypto, adding, “I have personally witnessed how Goldman Sachs can help you.”

In a statement, a Goldman Sachs spokesperson said: “Unfortunately, this type of fraud is increasingly common, and third parties have been known to falsely claim to provide financial services on behalf of Goldman Sachs and may use the names of existing staff to attempt scams.

“The safety of our customers and prospects is extremely important to us. We thoroughly investigate all allegations of fraud and will take appropriate action accordingly.

Britons lost more than £600million to fraud in the first half of 2022, according to data from UK Finance. More than 5,000 people fell victim to investment scams during the period, losing a total of £61.2m, up almost 30% on 2020.

Jenny Ross, which one? The editor of Money, said: “Fraudsters will use a wide range of tactics to trick victims – such as fake WhatsApp messages posing as representatives of respected financial companies or friends and family pretending to have lost their phone.

“At a time when many people will be looking for other ways to make extra money, investment programs promising lucrative returns on relatively small investments may seem appealing – but these are usually scams and should be treated with extreme caution.

“Genuine companies will never ask you for personal information or pressure you to make a decision. If this happens, take the time to ask yourself if it’s too good to be true. Anyone can also register for the Scam Alert Service of Which? to draw attention to new scams.

WhatsApp owner Meta said it uses a combination of techniques to enforce its policies and prevent abuse. However, he warned that WhatsApp protects personal messages and calls with end-to-end encryption, which means no one except the sender and recipient has access to these messages, not even WhatsApp.